23-09-2010 Nifty update

As i told yesterday people who have gone short below 5985 would have got at least 40 points as profit...bcoz of the strong buying and short covering happened during the closing hours helped nifty to close at a decent level on the upside...our upside target still remains at 6020 and on the downside if it breaks 5930 i'll update you with further targets...our new option strategies would be posted in tomorrow's post...from today onwards the posts would concentrate mostly on NIFTY
NIFTY upside target 1 - 6020
target 2 - 6070-6080 levels
Downside target 1 - 5930
target 2 - 5870-80 levels

Results:Today nifty spot reached till 5933, close to our target of 5930 levels

NIFTY Daily update 22-09-2010

First of all sorry for not giving you the updates bcoz of some technical difficulties.
NIFTY is in a perfectly good shape to trade and not for any kind of investment purpose.Investors should have exited their positions at 5650 - 5700 levels.
Nifty moves as if some more upside is left but it is nearing the end of a smart bull run.Nifty seems to be flirting with 600o levels for the past two days...traders can go short below 5985 levels and the upside target would around 6090 levels..If you can go short below that level the immediate target would be 5930 levels. Nifty is not considered weak until there is a sell off in the banking sector.....As i always said aftr 5650 levels it is better to have one October 5600 put position as a hedge against the downside risk and you can buy stocks for intraday....
One can exit their Reliance position at 1025- 1030 levels

09-09-2010 Daily update

NIFTY gave a surprise upmove during the final moments of the trade supported by banking stocks....especially SBI...The stock is slowly moving to the bubble zone....a little bit of consolidation happened at 2750 levels and it gave a good move till 3000 levels...the stock has added lot of buyers today too...I would like to stay away from two top stocks .. SBI and TATA steel as both are moving towards a bubble kind of zone...We had a short sell call on JSW steel today also and it would have given atleast Rs.2500+ profit ....The call was to go short below 1219 and today's low was 1205 (futures)....NIFTY's (futures) upside target still remains at 5615-5650 levels as of now...Huge volumes could be seen in banking stocks....go short on NIFTY only if comes below 5580-5570 levels....

08-09-2010 Daily update

Though NIFTY went just above our target of 5615...it managed to come down to 5580 levels...one can comfortably go short on NIFTY if it comes below 5575 with a stop loss at 5600-5606 levels....the target would be 5520 levels...yesterday's JSW steel position would have given a benefit of 4-7 points gain for traders and the position
holds for tomorrow's trade too....expect a good sell off at higher levels and the charts were not in favor of bulls for weekend closing for the past 4 weeks...
Watch for 10480 levels in Dow as it seems to be a good resistance for intraday
If NIFTY manages to come below 5585(futures closing)...NIFTY can touch 5511,5430 on the down side....5100 put position (Oct)plays a significant role at this level

07-09-2010 Daily update

Nifty was breaking all the possible targets and the uptrend continued today also
As a trader you should be cautious enough...because when everyone is happy in the market it means something is wrong 5100 put (Oct)position still holds in my trading strategy...as i mentioned in my intraday report NIFTY's short term movement reverted from 5615 ...(NIFTY futures high 5612)..as it came down from that particular point i expect a reversal of the current trend at least for a short term...but the upper channel still remains at 5650 levels for the medium term and the support area lies at 5360 ...and NIFTY's base could be shifted to 5480 levels.
I expect some selling pressure in JSW steel(futures)if it comes below 1219 (intra day)and if it breaks 1233 on the upside you can go for an intraday buy....strong short covering and buying in Reliance were the major factors which helped NIFTY to move up...todays upmove was just to sell off the existing postions in NIFTY futures as the day had lower volumes compared to other days (Nifty futures)

Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.

07-09-2010 Intraday updates

Our medium term call JK lakshmi cement has achieved the target(read 18-08-2010 post)
Cautious at 5615 if NIFTY could reach that today...the next short term trend starts from there...

Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.

04-09-2010 Daily Update

Nifty gave a really good rally on the upside backed by banking and metal stocks...
The stocks that i had mentioned(JSW steel and Hero honda)good movement and Hero honda was a contrarian call...the crucial level was 5540 and NIFTY could successfully surpass that level with decent volume...
NIFTY has already touched its upper channel for the short term at 5570 levels but the medium term upside target would be completed at 5650 levels....by achieving that level NIFTY could form a new trend.... I expect some selling in NIFTY tomorrow or day after tomorrow as it has already kissed the upper channel....
The downside still remains at 5360 levels as it gives a good support for the short term...As i said in my earlier posts till Dow gives a downside break out below 9925 ...the bulls are active

Trading Strategies

Buy 5100 put (Oct), When nifty is trading at 5560 - 5580 levels....
at a correction towards 5460-5480 levels you can start buying one 5700 call (Oct)
You can still buy stocks for intra day with a 5100(Oct) put position

Disclaimer: The views and investment tips expressed in this blog is my own, and not that of any website or its management.I advise users to check with certified experts before taking any investment decisions.

06-09-2010 Intraday report

Bang on!!!NIFTY achieved upside target of 5540 (read yesterday's post)
be cautious for the next move

NIFTY - Weekend report 04-09-2010

As i was telling last week ....as long as Dow gets a support at the immediate low of 9925 the uptrend is still there..but the only problem is that Dow has already completed its 5 wave counts on the upside and more upside beyond 11k seems to be impossible at this point of time...NIFTY's upside is capped at around 5540 and we could see that NIFTY would just be accumulating huge number of sellers when ever it goes up..the simple logic behind this argument is that every one is sitting at huge profits (especially pvt banks)and if an uptrend is there they would like to exit the market as it lacks some energy for a further up move....
It is a traders market..and if you like to buy some stocks ...have intra day positions with 5100 put (Oct) with you so to ensure a protective cover against your stocks
Stocks like to watch
JSW steel, Hero honda

03-09-2010 Daily update

Nifty ended flat but with good volatility...

03-09-2010 Intra day report

Be cautious of weekend selloffff in many stocks!!
cautious!!!important level to watch - 5480!!

02-09-2010 Daily updates

A dull day for the market ....at 5500 levels you could see the attack from bears...anyway the maximum up swings of the market can go upto 5533 - 5550 levels for the short term and 5615 as of now...so my strategy would be buy stocks for intraday with a 5100 put buy position...the uncertainty lies between Reliance and NIFTY and these were moving in opposite directions till now...When these two start moving in the same direction we can determine the trend

As i was telling all these days as long as 9925 is taken out for Dow ...the trend is not so weak for U S market...but the upside seems to be capped at 5533-5540 for Indian markets....
It is always advisable to go for intraday buy with 5100 put position...
Our first strategy would have ended yesterday (5300 put, 5600 call)and it had given at least 50% return to the investors....
Next strategy would be posted within a few days

01-09-2010 Daily updates

NIFTY gave a good pull back rally backed by metal sector and ICICI bank...
Reliance finally showed some strength...In reliance charts we could see some short coverings were happening and cannot be considered as new buyers have come in...As i mentioned in yesterday's blog Nifty's upside target has been achieved at 5480 and hope you have booked your profits in 5600 call positions.
If the rally continues in the days to come we could see some strength in NIFTY ...As per our trading strategies one would have benefited from 5300(put) and 5600 (call) postions....
Trading Strategies
Book full profits in JSW steel (read 18-08-2010 post) as it has already achieved our target.If NIFTY gives good movement above 5500 buy Reliance (only if it crosses 950) along with 5100 put(Oct)...
We still suspect a smart move from the bears at 5500 + levels ..Cautious!!!
The support levels for Dow still lies at 9925 levels